Allianz China General Insurance Co today announced strategic cooperation with the insurance unit of China"s largest e-commerce platform Taobao.com.

Bill Song, deputy chief operation officer of Allianz, said teaming up with Taobao will help the company expand consumer basis and improve risk control.

"There are rarely any channel that can help us access consumers countrywide like Taobao," Song said. "Allianz can not only serve the web users but also business demands stemming from e-commerce."

Jiang Xing, general manager of Taobao Insurance, said the platform will waiver insurers of service fees if the insurer launches innovative products on the platform.

Allianz yesterday launched a product on Taobao Insurance that will compensate policy holders if they cannot see the moon on September 19, the Mid-Autumn Festival, due to bad weather.